You've heard it say that you should consider using a budget to help you better manage your money. Do you use a budget and do you feel its working?

Honestly, as much as i talk about being "financially conservative" I have no budget on paper.

I just have a habbit of saving part or all of my paychecks, and taking some of what I need out of it later.

I ususally just make a vision in my head of what I have, how much I take in every month, what I will use to spend, and consider things that may come around in the near and distant future, and make sure my savings can handle it.

My thing with money is mostly habits. I feel that if I put a buget on paper I may allow myself too much money to spend officially and then I may not save as much as I want to start going on investment avenues. Probaly if I do I may be able to start investing sooner than I think?

Personally, my budgeting stinks. I hate writing checks, I hate getting/paying/sending payment for bills. I hate putting stamps on an envelope too. So there are times when I've got a lot of cash in the bank, then when my conscience catches up with me, or I'm afraid of coming home to my place with the current cut off, I end up writing all my bills and transferring the balance of the checking account to savings. Then I build up the checking account with the next few paychecks, etc, etc. My ex-gf used to handle the household bill-paying where all I had to do is sign the checks.

I miss her!

Professionally, I ride my CFO like a cowboy to watch every company dollar!

I don't budget. I get paid once a month and all bills including savings are automatically withdrawn one or two days after deposit. The only thing that's left is discretionary funds - which isn't that discretionary since its mostly food and transportation funds that I get reimbursed anyway.

LOL! I have a spreadsheet that I stick to like glue. Usually by August, I'm able to see what I projected (compared to what was actually spent in the last eight months) and begin to prepare the budget for the new year. I factor in rises in electricity, school fee (for my daughter), home insurance and car insurance. All of the others are standard. Whenever I have to use my credit card (which is equivalent to ONE MONTH'S SALARY), I pay it off with my salary the next month (BEFORE the new bill comes) to avoid the interest - even if I have to use that same money again. I save $150.00 per month as a savings ($100.00 is dead savings - never to touch - for now and $50.00 is for a real emergency - none's happened yet). I am more than covered with life insurance and I figure my only investment is my own home (as I'm only 25). I take my daughter on a family trip ONCE a year and that's when we shop like hell (maxing out the credit card in August) and paying it off when bonus comes around. Now that the house is complete and furnished, I look forward to saving the rest of my annual bonuses from now on. GF, that's where you come in.

LOL! I have a spreadsheet that I stick to like glue. Usually by August, I'm able to see what I projected (compared to what was actually spent in the last eight months) and begin to prepare the budget for the new year. I factor in rises in electricity, school fee (for my daughter), home insurance and car insurance. All of the others are standard. Whenever I have to use my credit card (which is equivalent to ONE MONTH'S SALARY), I pay it off with my salary the next month (BEFORE the new bill comes) to avoid the interest - even if I have to use that same money again. I save $150.00 per month as a savings ($100.00 is dead savings - never to touch - for now and $50.00 is for a real emergency - none's happened yet). I am more than covered with life insurance and I figure my only investment is my own home (as I'm only 25). I take my daughter on a family trip ONCE a year and that's when we shop like hell (maxing out the credit card in August) and paying it off when bonus comes around. Now that the house is complete and furnished, I look forward to saving the rest of my annual bonuses from now on. GF, that's where you come in.

Do you find using a budget an effective money management tool for you?

Do you find using a budget an effective money management tool for you?

YES IT IS. It's one thing to estimate in your mind what you earn and have to spend each month. But when you actually put it on paper and make it your daily "bible" you tend to stick to it. In fact, person's at work used to laugh at me when I'd be amended my spreadsheet on pay day (checking off what was paid) but now alot of people seem to use it too. It helps you to avoid leisure spending (as I call it). Off the record, I used to save $50 per month as dead savings and $50.00 per month for emergencies. One month I kept all my starbucks reciepts (hard working downtown and not craving starbucks) and it totaled $120. That's when I decided to put $50 more in dead savings and live a little. After a while you get to see where you're saving on bill payments ad can adjust that sheet to add a bit more savings. Plus it's good to see the check marks at the end of each month.

BTW paying bills late COSTS you in the long run. Reconnection and late fees ADD UP and is taken away from what you could be saving.

YES IT IS. It's one thing to estimate in your mind what you earn and have to spend each month. But when you actually put it on paper and make it your daily "bible" you tend to stick to it. In fact, person's at work used to laugh at me when I'd be amended my spreadsheet on pay day (checking off what was paid) but now alot of people seem to use it too. It helps you to avoid leisure spending (as I call it). Off the record, I used to save $50 per month as dead savings and $50.00 per month for emergencies. One month I kept all my starbucks reciepts (hard working downtown and not craving starbucks) and it totaled $120. That's when I decided to put $50 more in dead savings and live a little. After a while you get to see where you're saving on bill payments ad can adjust that sheet to add a bit more savings. Plus it's good to see the check marks at the end of each month.
BTW paying bills late COSTS you in the long run. Reconnection and late fees ADD UP and is taken away from what you could be saving.

So you are saying that your budget allows you to monitor income and control your spending therefore freeing up more money for savings?
Are you also saying that you put your "dead" and emergency saving away first and after paying your bills you add any amounts left to your savings?

You've heard it say that you should consider using a budget to help you better manage your money. Do you use a budget and do you feel its working?


I really like the idea of functioning on a "strict budget" but that's just the problem, when ever I say that I am not going to spend this money on "A, B or C, I spend it faster than the time I took to say i'm not going to spend it.

On average I spend way to much money on a daily basis, and I know this but I don't know how to control myself. I need Dr. Phil! Badly!

Here's routine spendage in one day..

I give both of my son's money every money for lunch. $3 and $4 dollars respectively.

Media guide $3 dollars

I buy my traditional "stew fish" breakfast from Mr. T's and a gatorade. $13 dollars.

I put gas in my car every two days. $30 dollars. So for a day, that will be $15 dollars.

Office supplies and other things for office $35 - $75. So lets say $55 dollars.

For lunch I spend about $25-30 dollars everyday. So that's $27.50 cents.

Afternoon snack that I bring for the whole family is like $20 - $25 dollars.$22.50 cents.


This is the a daily routine, so don't add no emergency fees or school fees and movies/field trip fees/fun day fees or none of that.

I spend about $145 - $150 everyday.

tried it, didnt work out ...

I really like the idea of functioning on a "strict budget" but that's just the problem, when ever I say that I am not going to spend this money on "A, B or C, I spend it faster than the time I took to say i'm not going to spend it.
On average I spend way to much money on a daily basis, and I know this but I don't know how to control myself. I need Dr. Phil! Badly!
Here's routine spendage in one day..
I give both of my son's money every money for lunch. $3 and $4 dollars respectively.
Media guide $3 dollars
I buy my traditional "stew fish" breakfast from Mr. T's and a gatorade. $13 dollars.
I put gas in my car every two days. $30 dollars. So for a day, that will be $15 dollars.
Office supplies and other things for office $35 - $75. So lets say $55 dollars.
For lunch I spend about $25-30 dollars everyday. So that's $27.50 cents.
Afternoon snack that I bring for the whole family is like $20 - $25 dollars.$22.50 cents.
This is the a daily routine, so don't add no emergency fees or school fees and movies/field trip fees/fun day fees or none of that.
I spend about $145 - $150 everyday.



maaan thats one expensive lunch, where do you eat?

ps. dont forget the internet bill ;)

maaan thats one expensive lunch, where do you eat?

ps. dont forget the internet bill ;)



Mostly Conch Fritters, Mr.T's, M&M cafe, Steve's Cafe, Sabbarro's or Outback. I think the real expense is the gatorades man. It's high way robbery to charge $2 dollars for one gatorade when I is have to get 2.:)


My wife takes care of the internet.;)

Mostly Conch Fritters, Mr.T's, M&M cafe, Steve's Cafe, Sabbarro's or Outback. I think the real expense is the gatorades man. It's high way robbery to charge $2 dollars for one gatorade when I is have to get 2.:)
My wife takes care of the internet.;)



yeap i hear you man, juice and sodas etc are very expensive these days .. i spend quite a bit every day on them myself ..

You've heard it say that you should consider using a budget to help you better manage your money. Do you use a budget and do you feel its working?

I have been using a budget system for over 10 years now..Without it I know that I would have been in debt up to my eye balls!!

I have a sheet that I make up every year that has all of my bills on it and each month as I pay the bills I would put a tick next to themIt works perfectly..

Every month I know what my average monthly bills are. What I also do is quote the utilitiy bills higher than they usually are and if they come lower (which they usually do) that's my extra spending money because my savings is already calculated in the budget.

I also do extra work on the side and the monies from those are split between my wife and I...

Believe me, if you have a decent system in place it will work and it definitely helps you to save otherwise you always find yourself overspending and in most cases running a deficit!!!

You've heard it say that you should consider using a budget to help you better manage your money. Do you use a budget and do you feel its working?


NO I DON'T BUT I NEED TOO.
HOW CAN I GET STARTED?